According to news on November 20, Hydro and Glencore’s cooperation in acquiring Brazil’s Alunorte alumina and MRN bauxite has received unconditional approval from relevant competition regulators in Brazil, China, Germany and Austria. There are still no regulatory conditions for completing the acquisition.
According to recent reports, all conditions have been approved, allowing Glencore to acquire a 30% stake in Hydro's Alunorte alumina refinery, as well as Hydro's 5% stake in MRN, Brazil's most prominent bauxite producer.
In addition, Glencore will acquire the 40% stake in MRN currently held by Vale. Under the terms of the agreement, Hydro will first need to buy a 40% stake from Vale and then immediately sell it to Glencore on the condition that the latter no longer has ownership of MRN.
Thereafter, the bauxite agreement between Hydro and Vale will no longer be valid. Instead, Glencore will begin supplying 30% of the Alunorte alumina plant's bauxite requirements from MRN.
After the transaction is completed:
Glencore will become a partner in Hydro's joint venture Alunorte;
Glencore will be part of the MRN joint venture, along with South32, Rio Tinto and Aluminum Brasil;
Glencore will not be the operator of Alunorte or MRN;
Glencore supplies most of the bauxite purchased from MRN to the Alunorte alumina plant;
It is reported that the transaction between Hydro and Glencore may be completed before November 30 or December 1, 2023.
Adtech was established in 2012, and the Chinese factory was put into production at the end of 2013. Adtech is an unremitting and enterprising brand pioneer, focusing on the R & D and manufacturing of "online degassing filter equipment, ceramic filter plates, hot top casting accessories, casting nozzle plates, repair agents and solvents" international enterprise. The company has successively developed dozens of series of products, so far it has covered a full range of equipment, filtration and high-temperature materials required by the aluminum alloy casting industry. The main products of Adtech are:
Sign in to leave a comment.